Bill is a high- school drop out who lost his job in a fast food restaurant when the economy plunged into a recession. After 8 months, Bill is still looking for work. He is an example of
A) cyclical unemployment.
B) frictional unemployment.
C) the natural unemployment rate
D) structural unemployment.

Question

Quizplus · Accepted Answer

Cyclical unemployment occurs when there is not enough demand for goods and services in the economy, leading to a reduction in the workforce. Bill lost his job due to an economic recession, which is a typical cause of cyclical unemployment.

Bill Is a High- School Drop Out Who Lost His